OMC Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
Business
License
why until now you didn't approve my withdrawal MR DARYL SPENCER. MY BROKER'...YOU TOLD ME TO PAY 10THOUSAND USD. FOR WHAT. ANG NOW I CANNOT OPEN MY ACCOUNT BECAUSE IT'S ALREADY BLOCK...
I don't know why the website of OMC markets can't be opened. Did they change the URL? But I searched the Internet and couldn't find a new website.
Summary: OMC Markets has garnered significant criticism for its lack of regulation and numerous user complaints regarding withdrawals and trading practices. Despite offering a range of trading options, the absence of proper licensing raises serious concerns about its trustworthiness and safety for traders.
Note: It's important to note that OMC operates under various entities across different regions, which can complicate the assessment of its legitimacy. This review synthesizes multiple sources to provide a balanced view of the broker's offerings and risks.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 4 |
| Trading Experience | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data about the broker's offerings and regulatory status.
Founded in 2018, OMC Markets is an offshore broker that claims to provide a range of trading services including Forex, CFDs, and cryptocurrencies. It operates under the ownership of Personal Found Ltd., based in Bulgaria, but has been criticized for lacking any regulatory oversight from major financial authorities such as the FCA (UK) or ASIC (Australia). The broker primarily offers a web-based trading platform, which lacks the advanced features of popular platforms like MT4 or MT5.
Despite its claims of offering over 180 trading instruments, including various asset classes like stocks, commodities, and cryptocurrencies, the absence of a regulated framework raises questions about the safety of user funds and the overall trading environment.
OMC Markets is not regulated by any recognized financial authority. The lack of oversight is a significant red flag, as it exposes traders to potential fraud and mismanagement of funds. Regulatory bodies such as the FCA and FSMA have issued warnings against OMC, highlighting its unlicensed status.
Deposits can be made in USD, EUR, and cryptocurrencies. However, users have reported difficulties in withdrawing their funds, which is a common issue with unregulated brokers. Many complaints indicate that withdrawal requests are often delayed or denied altogether.
The minimum deposit requirement at OMC Markets is set at $250, which aligns with many brokers in the industry. However, this amount can be considered high given the broker's questionable regulatory standing.
OMC Markets offers various promotions, but these often come with stringent withdrawal conditions. Users have reported that accepting bonuses can lead to complicated withdrawal processes, where traders must meet high trading volumes before accessing their funds.
The broker claims to offer a wide array of tradable assets, including Forex pairs, commodities, indices, and cryptocurrencies. However, many users have pointed out that the actual availability of these assets is often misrepresented on the platform.
The spreads at OMC Markets are reported to be relatively high, with some users indicating spreads as high as 3.5 pips for major currency pairs. This is significantly above the industry standard and could impact overall trading profitability.
OMC Markets offers leverage of up to 1:200, which can amplify both potential profits and losses. However, high leverage also increases the risk of significant financial loss, especially for inexperienced traders.
The broker exclusively uses a proprietary web-based trading platform, which lacks the reliability and features of established platforms like MT4 or MT5. This limitation can hinder the trading experience for many users.
OMC Markets does not accept clients from certain regions, including the United States. This restriction is common among unregulated brokers, as they seek to avoid legal repercussions in jurisdictions with strict financial regulations.
Customer support at OMC Markets is available primarily in English and German. However, user reviews indicate that the quality of customer service is inconsistent, with many complaints about slow response times and unhelpful support staff.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 4 |
| Trading Experience | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
OMC Markets' account conditions are subpar, with a minimum deposit of $250 and high spreads. Users have expressed dissatisfaction with the overall trading conditions, particularly in light of the broker's unregulated status.
The tools and resources offered by OMC Markets are limited, especially given the absence of popular trading platforms like MT4 or MT5. This lack of advanced tools can hinder traders' ability to execute effective trading strategies.
Customer service has received mixed reviews, with some users praising the availability of support while others report long wait times and inadequate assistance. This inconsistency can be frustrating for traders seeking timely help.
The overall trading experience with OMC Markets has been criticized, particularly due to the web-based platform's limitations and the high spreads. Many users have reported issues with trade execution and withdrawal processes.
Trustworthiness is a significant concern for OMC Markets, as it operates without regulation and has been flagged by multiple financial authorities. This lack of oversight raises serious questions about the safety of user funds.
User experiences vary widely, but many traders report negative interactions with the broker, particularly regarding withdrawals and customer support. The overall sentiment leans towards caution when considering OMC Markets for trading.
In conclusion, OMC Markets presents several red flags that potential traders should consider. The lack of regulation, high spreads, and numerous user complaints make it a risky choice for those looking to invest in the Forex market. As always, it is advisable to conduct thorough research and consider regulated alternatives before committing funds to any broker.
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